Intraday Market Thoughts

Yen crosses shakeout

by Ashraf Laidi
Aug 6, 2014 19:30

Is today's shake-out in yen crosses a massive catch “down” in FX in line with falling yields? And will stocks continue to lose ground to attain the much anticipated trifecta in stocks-yield-yencrosses? Yields were first to drop back in May, much to the shrugging of stocks which went on to hit new highs, while yen crosses invariably began to struggle. Considering the gradual re-convergence among these three segments, we issue a new Premium Insights trade with 2 new charts. Subscribers have seen our Jul 25 short in EURUSD entry at 1.3495 hits its final target of 1.3340, while our EURJPY shorts from July 10 are currently 100 pips and 155 pips. The USDCHF long entry at 0.8910, targeting the final 0.9120 reached 0.9115, currently on 160 pips. Full access found in the latest Premium charts.


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